India Finalizing Investment Contract at Iran’s Chabahar Port: Roads Minister
TEHRAN (Tasnim) – Indian firms’ investment contract at Chabahar strategic port has been finalized, Iran’s minister of roads and urban development said, adding that Iran is a land of logistic and transit opportunities.
Speaking on the sidelines of the 10th Iran International Exhibition of Rail Transportation and Related Industries dubbed “Iran Rail Expo” in Tehran on Tuesday, Mehrdad Bazrpash said the economic development of the country hinges on the development of transport infrastructures and the rail sector is one of the most important infrastructures.
Two-thirds of parts and equipment used in the rail industry are manufactured in the country, the roads minister said, pointing out that efforts are underway to manufacture all parts in the rail industry in the country.
Elsewhere in his remarks, he pointed to the International North-South Transport Corridor (INSTC) and said that completion of the construction operation of the INSTC has been put on the agenda of the ministry.
The long-term investment contract made by Indian companies at Chabahar Port is in the finalizing stage which provides a good opportunity for investment in the country, he added.
The roads minister also said that good agreements have been concluded with foreign countries for changing the technology of electric trains.